What Do the Numbers Say About Our Market?

We have the latest numbers from our market and what they mean for both buyers and sellers.

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To get a sense of where our southwest Cleveland area market stands, let’s look at how the numbers stacked up at the end of May. 

In Medina, there were 248 active listings, 115 pending listings, and 114 closed listings. There were roughly 2.2 months of inventory. These numbers indicate Medina has moved from a neutral market to a seller’s market. 

In Brunswick, there were 58 active listings, 78 pending listings, and 69 closed listings. Based on the number of properties closing per month, Brunswick has zero months of inventory, which makes it a heavy seller’s market. 

In Hinckley, there were 22 active listings, 12 pending listings, and four closed listings. This area is still a neutral market and hasn’t changed much from previous months. 

In Strongsville, there were 123 active listings, 66 pending listings, and 64 closed listings. With less than two months of inventory, they continue to be a seller’s market. 

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Our market generally favors sellers.

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In Middleburg Heights, there were 23 active listings, 21 pending listings, and 25 closed listings. They have less than a month of inventory, so they’re also a strong seller’s market.  

Though most areas are in a seller’s market, not every price point favors sellers. The sweet spot for buyers seems to be in the $150,000 to $300,000 range. In Brunswick, the $300,000 to $400,000 is more on the border of being a neutral or buyer’s market because there is more inventory in that price point than there are buyers. 

If you have any questions about our market or are thinking of buying or selling a home, give us a call or send us an email for a free consultation. We’d be happy to help you.